Down to a fine art: Greater ticket admissions and private donations have supported growth

Despite a highly competitive environment, the Art Galleries and Museums industry has achieved modest growth over the past five years. Art galleries and museums contend with other leisure, sporting and entertainment organisations for a share of consumer expenditure and government funding. As a result, the industry has developed special exhibitions and interactive educational displays to attract new visitors and retain existing patrons. Art galleries and museums have continued to reposition themselves as social institutions, widening their appeal to new audiences and helping them secure government grants.Successful art gallery and museum operators have made use of existing and emerging digital media to offer online virtual museums...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
0.4%
Forecast Growth 18-23
Profit
Employment
8,854
Businesses
1,538

Industry Threats & Opportunities

  • Industry operators have developed interactive educational displays to attract new visitors
  • Heightened external competition has limited the revenue generated from admission fees
  • State governments are projected to increase spending on art galleries and museums
  • Industry Report - Industry SWOT Analysis Chapter

    The Art Galleries and Museums industry is in the mature stage of its life cycle. While revenue has grown marginally over the past five years, both industry employment and establishments have fallen. Admission tickets to art galleries and museums have continued to rise during the period, while government funding has varied across industry establishments. Industry value added is estimated to increase by an annualised 1.8% in the 10 years through 2022-23. This represents an underperformance relative to GDP growth, which is expected to be 2.5% over the same period. Underperformance of economy-wide growth is typical of mature industries.Visitation growth has varied across industry establishments. Lar...purchase to read more.

    Additional Insights for the Art Galleries and Museums Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Art Galleries and Museums Industry are

  • Carrying out all necessary maintenance to keep facilities in good condition
  • Effective product promotion
  • Marketing of differentiated products
  • IBISWorld analysts also discuss how external factors such as Government funding for heritage and arts and Expenditure on recreation and culture in the Art Galleries and Museums industry impact industry performance..

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    What's in this report

    What is the Art Galleries and Museums Industry?

    Operators in the industry run and manage art galleries and museums across Australia. The industry also includes businesses that operate historic houses.

    Industry Products
  • Art gallery exhibitions
  • Museum exhibitions
  • Merchandise sales
  • Other products and services
  • Industry Activities
  • Art gallery operations (except)
  • Art museum operations (except)
  • Historic house and heritage site operations
  • Historic railway operations
  • Maritime museum operations
  • Museum operations
  • Natural history and science centre operations
  • Social history museum operations
  • Transport museum operations
  • War memorial museum operations
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Government funding for heritage and arts
  • Expenditure on recreation and culture
  • Real household discretionary income
  • Average weekly hours worked
  • High income earners
  • Total visitor nights

  • Current Performance
  • The big picture
  • The changing market
  • Generating funds
  • Chart: Revenue Growth

  • Industry Outlook
  • Public and private funding
  • Admissions
  • Table: Art Galleries and Museums Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Art Galleries and Museums Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Education and Training
  • Consumers

  • Key Selling Industries
  • Creative Arts
  • Professional, Scientific and Technical Services

  • Products & Services
  • Museum exhibitions
  • Art gallery exhibitions
  • Merchandise sales
  • Other products and services
  • Chart: Art Galleries and Museums Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest income quintile
  • Fourth income quintile
  • Third income quintile
  • Second income quintile
  • Lowest income quintile
  • Chart: Major Market Segmentation for the Art Galleries and Museums Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Art Galleries and Museums

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Art Galleries and Museums Industry

  • Industry Globalization
    National Gallery of Victoria, Museums Board of Victoria,
  • Table: National Gallery of Victoria - financial performance
  • Table: Museums Board of Victoria - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Art Galleries and Museums Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Art Galleries and Museums Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Interactive Displays
  • Exhibitions that incorporate technology and elements that can be handled by visitors to enhance their experience.
  • Niche Operators
  • Museums that focus on, or specialise in, one particular theme.
  • Social History Museum
  • A museum that houses collections and information that relate to historically significant events.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Art Galleries and Museums market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Art Galleries and Museums:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Art Galleries and Museums market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Art Galleries and Museums, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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